The Fed has pointed to continued strong jobs gains and robust consumer spending, while financial markets have been shaken by slowing global growth, a tightening of financial conditions caused by interest-rate hikes, trade disputes and the partial U.S. government shutdown. (Photo: Shutterstock)
(Bloomberg) –The still-strong U.S. economy showed signs of slowing in recent weeks amid declining optimism, though most regions continued to show modest to moderate growth, a Federal Reserve survey showed.
“Outlooks generally remained positive, but many districts reported that contacts had become less optimistic in response to increased financial market volatility, rising short-term interest rates, falling energy prices, and elevated trade and political uncertainty,” according to the report, released Wednesday in Washington.
The central bank's Beige Book economic report, based on anecdotal information collected by the 12 regional Fed banks from late-November through Jan. 7, showed manufacturing and energy expanded at a slower pace in most districts, while non- financial services cooled in a few districts.
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